Economic team will manage to boost investor confidence, says WB

BANGKOK, Oct 26 (TNA) – A team of economic ministers appointed by Thailand’s interim government will manage to boost confidence among local and foreign investors since they have won their recognition, according to the World Bank’s executive.

Ian C. Porter, Director of the WB’s Representative Office in Asia-Pacific, said the bank projected the Thai economy would grow around 4.5 per cent this year and 5 per cent next year, boosted by increased exports and improved consumption.

It viewed a private investment would gradually increase since the economic team in the new government had been entrusted by local and foreign investors that it would manage the economy more efficiently.

On the government’s declaration for the implementation of the sufficiency economy policy on par with the liberal economy, the bank suggested the government accelerate explaining to foreign investors how the sufficiency economy mean.

He said the bank understood the sufficiency economy principle is a tool that helps make the Thai economy grow steadily and in a balanced manner.

He added the Thai economy had expanded rather steadily in the past year. It showed the sufficiency economy concept had been already adopted in the management of the macro-economy by the previous government.

TNA